Lean hog futures were mixed on Friday, with most front months 12.5 to 60 cents higher and a few deferred contracts lower. The CME Lean Hog Index was up $1.18 on January 10 at $68.46. The USDA pork carcass cutout value was up 77 cents at $79.81 in the Friday afternoon report. The national base hog weighted average price was down 45 cents to $69.45. The USDA week to date FI hog slaughter is estimated at 2,450,000 head through Saturday. Reports are showing that Mexico is threatening to pull out of NAFTA if President Trump starts the withdraw process. Pork production for 2017 was totaled at 25.585 billion pounds in this morning’s USDA supply and demand table. That was moved by a 25 million pound increase in the fourth quarter. Production for 2018 is projected at 26.960 billion pounds, up 45 million pounds from the previous report.
Feb 18 Hogs closed at $71.575, up $0.600,
Apr 18 Hogs closed at $74.325, up $0.500
May 18 Hogs closed at $79.000, up $0.300